cbdMD acquires 'CBD MD' trademark from Majik Medicine for cash/stock; settles litigation

cbdMD, Inc.

Paid $100k cash on closing; will pay $50k annually for 4 years ($300k total) and issued 75k shares of common stock (50k more in year 2).
Entered 5-year consulting agreement with Majik; 15% commission on net sales increase from new wholesale customer base of licensed practitioners.
Amendment to existing convertible notes and security agreement allows pledge of new trademark as permitted lien and payments as permitted indebtedness.
Majik appointed board member William Raines III as proxy for the initial shares for 12 months.
Company expects mark enhances IP portfolio and removes TTAB procedural impediments, avoiding continued litigation.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.